Traders Buy Shares of Bristol-Myers Squibb Co. (BMY) on Weakness

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Traders purchased shares of Bristol-Myers Squibb Co. (NYSE:BMY) on weakness during trading on Monday. $142.50 million flowed into the stock on the tick-up and $120.01 million flowed out of the stock on the tick-down, for a money net flow of $22.49 million into the stock. Of all equities tracked, Bristol-Myers Squibb had the 16th highest net in-flow for the day. Bristol-Myers Squibb traded down ($0.52) for the day and closed at $55.08
BMY has been the subject of several research analyst reports. Hilliard Lyons initiated coverage on Bristol-Myers Squibb in a research report on Monday, May 23rd. They set a “neutral” rating for the company. TheStreet raised Bristol-Myers Squibb from a “hold” rating to a “buy” rating in a research report on Tuesday, May 31st. Vetr raised Bristol-Myers Squibb from a “sell” rating to a “buy” rating and set a $78.79 price objective for the company in a research report on Tuesday, June 7th. Jefferies Group boosted their price objective on Bristol-Myers Squibb from $76.00 to $78.00 and gave the stock a “hold” rating in a research report on Tuesday, June 14th. Finally, Deutsche Bank AG reissued a “hold” rating on shares of Bristol-Myers Squibb in a research report on Wednesday, June 15th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Bristol-Myers Squibb presently has an average rating of “Hold” and a consensus target price of $69.91.
The stock has a 50-day moving average of $60.17 and a 200-day moving average of $67.73. The stock has a market cap of $92.03 billion, a PE ratio of 32.21 and a beta of 0.61.

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Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings results on Thursday, July 28th. The biopharmaceutical company reported $0.69 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.66 by $0.03. The company had revenue of $4.90 billion for the quarter, compared to the consensus estimate of $4.60 billion. Bristol-Myers Squibb had a net margin of 16.63% and a return on equity of 24.92%. Bristol-Myers Squibb’s revenue was up 17.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.53 earnings per share. On average, analysts expect that Bristol-Myers Squibb Co. will post $2.63 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 1st. Shareholders of record on Friday, October 7th will be given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 2.76%. The ex-dividend date is Wednesday, October 5th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is 87.36%.
In other Bristol-Myers Squibb news, Director Lamberto Andreotti sold 23,200 shares of the business’s stock in a transaction on Friday, July 8th. The shares were sold at an average price of $74.45, for a total transaction of $1,727,240.00. Following the transaction, the director now owns 380,099 shares in the company, valued at $28,298,370.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.24% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of BMY. WESPAC Advisors SoCal LLC boosted its position in Bristol-Myers Squibb by 5.1% in the second quarter. WESPAC Advisors SoCal LLC now owns 1,538 shares of the biopharmaceutical company’s stock worth $113,000 after buying an additional 75 shares during the period. Jolley Asset Management LLC boosted its position in Bristol-Myers Squibb by 4.0% in the second quarter. Jolley Asset Management LLC now owns 2,092 shares of the biopharmaceutical company’s stock worth $154,000 after buying an additional 80 shares during the period. Harel Insurance Investments & Financial Services Ltd. purchased a new position in Bristol-Myers Squibb during the second quarter worth $163,000. Solaris Asset Management LLC boosted its position in Bristol-Myers Squibb by 3.5% in the second quarter. Solaris Asset Management LLC now owns 2,244 shares of the biopharmaceutical company’s stock worth $165,000 after buying an additional 75 shares during the period. Finally, Jackson Grant Investment Advisers Inc. boosted its position in Bristol-Myers Squibb by 0.5% in the second quarter. Jackson Grant Investment Advisers Inc. now owns 2,353 shares of the biopharmaceutical company’s stock worth $173,000 after buying an additional 12 shares during the period. Institutional investors and hedge funds own 72.95% of the company’s stock.
About Bristol-Myers Squibb
Bristol-Myers Squibb Company is engaged in the discovery, development, licensing, manufacturing, marketing, distribution and sale of biopharmaceutical products. The Company’s pharmaceutical products include chemically synthesized drugs, or small molecules, and products produced from biological processes called biologics.

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